Parliamentary Finance: Corruption threatens the collapse of the country’s economy
Parliamentary Finance: Corruption threatens the collapse of the country’s economy
07/12/2015 15:20
In the event that corruption has spread to more than that corruption will become in the coming period, the scourge can not be processed and will cause the collapse of the Iraqi economy as a whole.
BAGHDAD / Obelisk: the parliamentary finance committee confirmed Sunday that the rampant corruption and mismanagement of public funds in government institutions threatens the collapse of the country’s economy
Said committee member Saleh al-Hasnawi in an interview with local media, followed up “obelisk”, that the rampant corruption in government institutions since 2003 and so far is equal to the largest amount of funds disbursed for investment purposes, and that the funds in 2014, with the exception of operating all waste.
“The year 2015 is witnessing a severe financial crisis requires concerted efforts of all government institutions concerned of the Ministry of Finance and the Central Bank to reduce corruption.”
He continued that “if it has spread to more than corruption that corruption will become in the coming period, the scourge can not be treated and would cause the collapse of the Iraqi economy as a whole.”
The Finance Committee revealed, in April 2015 for the loss of the country about $ 360 billion, due to corruption and money-laundering operations, since 2003.
And that Iraq’s imports from the sale of oil since 2006 until 2014, amounted to about $ 550 billion, and 60% of that amount, or about $ 360 billion, it was sold in the currency auction in Baghdad organized by the Central Bank of Iraq, was transferred out of the country by companies civil and banking offices in mysterious circumstances.
Iraq also that the money lost due to corruption and money laundering, where the eligibility of banks to buy currency and transfer abroad under the pretext of buying goods and goods which are not up to Iraq only a little.
almesalah.com
